Facebook buy Giphy Tool

Facebook says it plans to integrate Giphy into Instagram. Courtesy: Supplied/ABC News

Facebook has bought Giphy, a popular tool for creating animated GIFs that pepper conversations around the internet.

The companies did not disclose how much the deal was worth.

But news website Axios reported the deal was valued at about US$400 million ($623 million), citing unnamed people familiar with the matter.

Facebook said in a blog post on Friday that it planned to integrate Giphy into Instagram but added that Giphy would still work outside of Facebook’s properties.

The company said about half of Giphy’s traffic came from Facebook’s apps — Instagram, Facebook, Messenger and WhatsApp.

“People will still be able to upload GIFs; developers and API [application programming interface] partners will continue to have the same access to GIPHY’s APIs; and GIPHY’s creative community will still be able to create great content,” Facebook’s vice-president of product Vishal Shah said in the blog post.

Giphy is also widely used on Twitter and in messaging apps.

Source: ABC News